Full text of U.S. Financial Data : August 27, 1992
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Federal erva Bank 8k, Lo IIIK IT III KM A KI SI KM OTHUjOI is THE WEEK'S HIGHLIGHTS: ✓ For the week ending August 26, the dollar was valued at 1.42 Deutsch marks—the lowest level since World War II—and 125.38 Japanese yen. Since the week ending August 19, the dollar has declined by 0.8 percent against the Deutsch mark and 2.8 per cent against the yen. During the past year, it has depreciated 18.7 percent against the Deutsch mark and 8.4 percent against the yen. The recent sharp drop in the value of the dollar was concentrated over a period of two business days. From Thursday, August 20, to Monday, August 24, the dollar fell 3.1 percent against the Deutsch mark and 1.3 percent against the yen. During the same period, the yield on three-month Treasury bills rose by 7 basis points, and the 30-year Treasury bond yield rose by 12 points. The Consumer Confidence index fell to 58 in August from a revised 61.2 in July. This marks the second consecutive drop after increases in the four previous months. */ New orders for durable goods fell 3.4 percent during July, after in creasing 2.8 percent in June. Compared with last July, orders are down 6.4percent. Views expressed do not necessarily reflect official positions of the Federal Reserve System. U.S. Financial Data is published weekly by the Research and Public Information Division of the Federal Reserve Bank of St. Louis. The cost for a subscription is as follows: One year (50 issues) Two years (100 issues) $18 $30 To subscribe, please send your check or money order made payable to the Federal Reserve Bank of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis, Post Office Box 66953, St. Louis, MO 63166-6953. DO NOT SEND CASH. Checks from foreign subscribers must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 Adjusted Monetary Base Averages of Daily Figures Seasonally Adjusted Billions of Dollars 1992 Aug Billions of Dollars Billions 5 3 17 31 14 28 11 25 9 23 6 20 4 18 1 Aug Sep Oct Nov Dec 15 29 12 25 11 25 8 22 8 20 3 17 1 Jan Feb Mar Apr May Jun 15 29 12 26 Jul Aug Sep Latest data plotted reserve maintenance period ending: August 19, 1992 The adjusted monetary base is the sum of reserve accoynts of financial institutions at Federal Reserve banks, currency in circulation (currency held by the public and in the vaults of all depository institutions) and an adjustment for reserve requirement ratio changes. The major source of the adjusted monetary base is Federal Reserve credit. Data are computed by this bank. A detailed description of the adjusted monetary base is available from this bank. Recent data are preliminary. Adjusted Monetary Base To the average of two maintenance periods ending: 1/22/92 2/19/92 3/18/92 4/15/92 5/13/92 6/24/92 7/22/92 8/19/92 Compounded annual rates of change, average of two maintenance periods ending: 8/21/91 11/13/91 1/22/92 2/19/92 3/18/92 4/15/92 5/13/92 6/24/92 7.4 9.7 9.8 9.0 9.1 8.4 8.0 9.1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.0 10.1 8.8 8.9 8.1 7.6 9.0 16.7 12.0 11.4 9.5 8.6 10.4 6.8 7.6 6.6 6.1 8.5 6.3 5.6 5.2 8.2 6.5 5.7 9.3 4.2 9.2 12.8 Prepared by Federal Reserve Bank of St. Louis Money Stock (M1) and Total Checkable Deposits Averages ot Daily figures Seasonally Adjusted Billions of Dollars 1992 Billions of Dollars M1 Billions — Jul 13 20 27 Aug 3 956.3 961.0 962.3 * 972.5 975.8 TCD (right scale) M1 (left scale) 1992 Jul 13 20 27 Aug 3 10 17 l 15 29 12 26 9 23 7 21 4 IB 2 16 30 13 27 Jul Aug Sep Oct Nov Dec Jan 10 24 Feb Billions 670.6 674.1 674.5 — 677.7 682.5 685.3 9 23 6 20 4 16 1 15 29 13 27 10 24 7 21 Mar Apr May Jun Jul Aug Sep 1991 1992 Latest data plotted week ending: August 17, 1992 Current data appear in the Federal Reserve Board's H.6 release. Ml is the sum of currency held by the nonbank public, demand deposits, other checkable deposits and travelers checks. Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions. Money Stock (Ml) T_ iLp ■o nvarnn* Compounded annual rates of change, average of four weeks ending: average g/ig/gi 11/18/91 1/20/92 2/17/92 3/16/92 4/20/92 7.8 7.1 5.7 8.0 5/18/92 6/15/92 9.8 6.8 9.5 of four weeks ending: 1/20/92 2/17/92 3/16/92 4/20/92 5/18/92 6/15/92 7/20/92 8/17/92 11.5 14.3 15.3 13.5 13.5 12.8 11.6 12.2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17.3 18.4 14.7 14.6 13.4 11.7 12.4 26.6 16.9 16.2 14.1 11.7 12.7 11.0 12.0 10.4 8.5 10.0 Prepared by Federal Reserve Bank of St. Louis 4 Adjusted Reserves Seasonally Adjusted Billions of Dollars 1992 Billions of Dollars Billions Jun 10 Jul 8 _Aug 5 3 17 31 14 28 11 25 9 23 Jul Aug Sep Oct S 20 4 18 Nov Dec 1 15 29 12 26 11 25 8 22 Jan Feb Mar Apr 1991 6 20 3 17 1 15 29 12 26 9 23 May Jun Jul Aug Sep 1992 Latest data plotted two weeks ending: August 19, 1992 Adjusted reserves is the difference between adjusted monetary base and currency component of M1. Adjusted Reserves To the average of two maintenance periods ending: 1/22/92 2/19/92 3/18/92 4/15/92 5/13/92 6/24/92 7/22/92 8/19/92 Compounded annual rates of change, average of two maintenance periods ending: 8/21/gi n/13/91 1/22/92 2/19/92 3/18/92 4/15/92 5/13/92 6/24/92 7.7 15.2 17.8 16.1 15.6 13.3 11.4 12.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17.5 21.3 18.1 16.9 13.6 11.0 12.8 50.7 33.4 27.4 19.3 14.8 16.7 19.0 16.3 10.6 7.1 10.4 7.7 4.4 1.7 6.4 4.3 0.9 6.8 Prepared by Federal Reserve Bank of St Louis Money Multiplier 1/ Averages of Daily Figures Seasonally Adjusted Compounded annual rates of change, average of the four weeks ending August 17, 1992 from the four weeks ending: Aug Nov Feb Mar Apr May Jun I 19, 11, 17. 16. 13, 11, 22, Ratio Jun 2.636 Aug 1991 2.9 1991 3.3 1992 1.7 1992 0.2 1992 0.2 1992 -0.3 1992 -1.7 8 3 2.616 2.618 15 29 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 1991 1992 Latest data plotted two weeks ending: August 17, 1992 Currency Component of M12/ Averages of Daily Figures Seasonally Adjusted Billions of Dollars 295 Billions of Dollars 295 ---------- 1---------- 1---------- — Compounded annu ]| rates of change, average of the four weeks ending August 17, 1992 fr am the four weeks end nq: Aug 19. 1991 7 .9 Nov 18. 1991 .8 Feb 17, 1992 7 .9 Mar 16, 1992 8 .6 Apr 20, 1992 10 .0 May 18, 1992 10 .8 2B5 275 285 / r ,—. 275 199, Bill! ans 20 27 Aug 3 10 17 279.1 280.0 280.8 282.2 282.7 265 ■ l ■ l L| l ’ i ,'1~T l 255 1 i 1 i |] 15 29 12 26 9 23 Jul Aug Sep 7 21 4 18 2 16 30 13 27 Oct Nov Dec Jan 10 24 9 23 Feb Mar 1991 6 20 4 18 1 15 29 13 27 10 24 Apr May Jun Jul Auq 7 21 Sep 1992 Latest data plotted week ending: August 17, 1992 1/ Ratio of M1 to adjusted monetary base 2/ Current data appear in the Federal Reserve Board's H.6 release. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis 5 265 255 6 Yields on Selected Securities Percent Percent Averages of Daily Figures Prime Bonk ■Loan Rate- Commercial 5 19 2 Jul Aug 13 27 11 25 Sep Oct Nov Dec Jan Feb Mar Apr 1991 May Jun Jul Aug Sep 1992 Latest data plotted are averages of rates available for the week ending: August 28, 1992 1992 90-Day CDs 30-Day Commercial Paper 90-Day Bankers' Acceptances 3.91 3.86 3.83 3.84 3.75 3.37 3.34 3.32 3.32 3.32 3.28 3.28 3.34 3.94 3.91 3.89 3.89 3.80 3.45 3.42 3.40 3.36 3.39 3.35 3.37 3.39 3.84 3.81 3.79 3.79 3.66 3.33 3.28 3.29 3.29 3.28 3.25 3.26 3.32 Jun 5 12 19 26 Jul 3 10 17 24 31 Aug 7 14 21 28 * Corporate Aaa Bonds 8.24 8.24 8.22 8.20 8.16 8.08 8.09 8.06 8.01 7.99 7.93 7.91 7.98 Corporate Baa Bonds 9.09 9.08 9.02 9.02 8.98 8.89 8.87 8.82 8.71 8.68 8.62 8.62 8.70 Municipal Bonds ** 6.57 6.52 6.46 6.42 6.38 6.17 6.16 6.05 5.89 6.06 6.05 6.21 NA Current data appear in the Federal Reserve Board's H.15 release. * Averages of rates available *• Bond Buyer's Average Index of 20 municipal bonds, Thursday data N A - Not Available http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Selected Interest Rates Percent Percent Averages of Daily Figures -Funds Discount Rats 5 19 2 Jul 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 13 27 10 24 8 22 5 Aug Sep Oct Nov Dec Feb Mar Apr 1991 May 19 31 14 28 Jun 1992 Latest data plotted are averages of rates available for the week ending: August 28, 1992 1992 Jun 5 12 19 26 Jul 3 10 17 24 31 Aug 7 14 21 28 * Federal Funds ** 3.85 3.69 3.73 3.72 3.87 3.24 3.28 3.22 3.18 3.33 3.24 3.33 3.27 3—Month Treasury Bill 6—Month Treasury Bill **+ 1 —Year Treasury Bill 5—Year Treasury Securities Long-Term Treasury Securities 3.71 3.67 3.63 3.64 3.48 3.22 3.19 3.17 3.18 3.16 3.11 3.07 3.16 3.90 3.83 3.75 3.77 3.66 3.32 3.31 3.24 3.27 3.30 3.19 3.18 3.24 4.08 3.99 3.93 3.94 3.79 3.48 3.38 3.38 3.43 3.39 3.28 3.26 3.41 6.61 6.56 6.44 6.40 6.22 5.93 5.85 5.74 5.70 5.69 5.53 5.48 5.73 7.76 7.74 7.67 7.65 7.56 7.42 7.45 7.36 7.20 7.18 7.08 7.11 7.25 Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities which are computed by this bank. Treasury bill yields are on a discount basis. * Averages of rates available ** Seven-day averages for week ending two days earlier than date shown •** Auction average (discount) Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 8 Money Stock (M2) and Non-M1 Components of M2 Averages of Daily Figures Seasonally Adjusted Billions of Dollars Billions of Dollars 2650 M2 1992 3500 - Billions Jul 13 20 27 Aug 3 10 17 3459.9 3458.2 3460.0. 3461.5 3471.1 3469.6 (left scale) 2550 2500 M2 (right scale) Non-M1 M2 1992 SMfins Jul 13 20 27 Aug 3 10 17 2503.6 2497.2 2497.7 2495.2 2498.6 2493.8 2450 2400 1 15 29 12 26 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Latest data plotted week ending: August 17, 1992 Current data appear in the Federal Reserve Board's H.6 release. M2 is the sum of M1. overnight RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents by foreign branches of U.S. banks, savings (including money market deposit accounts), small time deposits and general purpose and broker/dealer money market mutual funds. For more detail, see the H.6 release. Money Stock (M2) Compounded annual rates of change, average of four weeks ending: To th« average 8/19/gi n/18/91 1/20/92 2/17/92 3/16/92 4/20/92 5/18/92 6/15/92 of four weeks ending: 1/20/92 2/17/92 3/16/92 4/20/92 5/18/92 6/15/92 7/20/92 8/17/92 2.4 3.5 3.7 2.7 2.5 2.2 1.6 1.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4.5 4.6 2.8 2.5 2.0 1.3 1.5 7.3 3.1 2.5 1.9 0.9 1.2 0.4 0.5 0.2 -0.6 0.0 -1.5 -1.3 -1.8 -0.9 -0.1 -1.2 -0.3 -2.0 -0.5 -0.4 Prepared by Federal Reserve Bank of St. Louis J Savings and Money Market Funds Averages of Daily Figures Seasonally Adjusted Billions of Dollars 1160 Billions of Dollars 915 ---------- 1---------- 1---------Savings 1992 Billions Jul 13 1133.1 1135 Aug 27 3 10 17 / 390 113 6.8 113 7.8 114 2.4 114 5.8 1090 ** Mom y Mark •t (rigt t scale I • •*» > ^ —v ✓ 365 \^ ** \ ^/s. - ’ 1015 310 Morley Me rket 1 99, Billi ans Savtngs D oposft. (left cale) Jul 3 35 .8 27 349.7 Aug 3 349.1 10 346.9 17 348.0 ______ I______ i_____ 955 I IS 29 12 26 9 23 J 21 Jul Aug Sep Oct 9 11 2 16 JO 13 27 Nov Dec Jan 10 21 9 23 6 20 4 18 1 15 29 13 27 10 24 7 II Feb Mar Apr May Jun Jul Aug Sep 1991 315 290 1992 Note: Savings deposits are at all depository institutions. Money market funds are general purpose and broker/dealer. Large and Small Time Deposits1/ All Depository Institutions Averages of Daily Figures. Seasonally Adjusted Billions of Dollars Billions of Dollars Small Time 1992 Jul 13 20 27 Aug 3 10 17 Small Time (right scale) Billions 945.1 941.4 937.6 934.2 — 930.0 926.5 Large Time (left scale) Large Time 1992 Billions — Jul 13 20 27 Aug 3 10 17 390.7 386.9 394.9 386.7 384.8 383.5 1 15 29 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 1991 1992 Latest data plotted week ending: August 17, 1992 1/ Large time deposits are those issued in demoninations of $100,000 or more. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis 9 10 Total Borrowings From Federal Reserve Banks Averages of Daily Figures Billions of Dollars 1992 Billions Jul 22 29 Aug 5 12 19 26 Billions of Dollars 0.217 0.237 0.243 0.229 0.268 0.267 25 9 23 S 20 4 18 1 15 29 12 26 11 25 8 22 6 20 3 17 1 15 29 12 26 9 23 3 17 31 14 28 Feb Mar Apr May Jun Jul Aug Sep Aug Sep Oct Nov Dec Jan 1991 1992 Adjustment + Seasonal Borrowings From Federal Reserve Banks Averages of Daily Figures Billions of Dollars 1992 Billions Jul 22 29 Aug 5 12 19 26 Billions of Dollars 0.217 0.237 0.243 0.229 0.268 0.267 3 17 31 14 28 11 25 9 23 6 20 4 18 1 IS 29 12 26 11 25 Mar Jul Aug Sep Oct Nov Dec Jan 22 6 20 3 17 1 15 29 12 26 9 23 Apr May Jun Jul Aug Sep 1992 Latest data plotted week ending: August 26, 1992 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Commercial Paper of Nonfinancial Companies Billions of Dollars 1292 Aug Billions of Dollars Not Seasonally Adjusted Billions 138.774 5 139.513 138.298 3 17 31 14 28 11 25 9 23 5 20 4 18 1 15 20 12 25 11 25 8 22 5 20 3 17 1 15 2! 12 25 9 23 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 1991 1992 Latest data plotted week ending: August 19, 1992 Commercial and Industrial Loans'/ Weekly Reporting Large Commercial Banks2/ Seasonally Adjusted Billions of Dollars Compounded annual rates of change, average of the four weeks ending August 12, 1992 from the four weeks ending: Billions of Dollars 1992 Jul 8 15 22 29 Aug 5 12 Billions 278.130. 279.491 278.028 276.467 277.339 276.703. May 13, 1992-12.1 10, 1992-1 1991 1992 Latest data plotted week ending: August 12, 1992 1/ Commercial and industrial loans include banker's acceptances and commercial paper. 2/Banks with domestic assets greater than $1.4 billion n • ' * Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11 Dollar’s Trade-Weighted Exchange Index Averages of Daily Figures 1 17 31 14 !! 11 IS ) 7! S 7) 4 1! 1 Jul Aug Sep Oct Nov Dec 15 » II If II IS I 77 4 74 3 17 I IS I) II IS ) 73 Jan Feb Mar Apr May Jun Jul Aug Sep Latest data plotted week ending: August 26, 1992 Current data appear in the Federal Reserve Board's H.10 release. Data are weighted averages of the foreign-currency price of the U.S. dollar, computed using 10 industrial country currencies. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Loui9 f >* K < K a> ,4